Tech company to create 125 jobs in Moncton with $2M from province
Dream Payments, a Toronto-based financial technology company, is creating 125 new jobs at its Moncton office with a little help from the province.
The provincial government announced Thursday that it will provide the company with up to $2 million in support, including $1.8 million for payroll rebates, which the company can use for a four-year period starting in January 2018.
The remaining $200,000 has been earmarked for costs associated with relocating international recruits.
Eric Lewis, a spokesman for Opportunities NB, said the province chose to partner with the company because Dream Payments will add to the province's skilled workforce by creating more employment in New Brunswick's technology sector.
The province estimates the 125 new full-time jobs will generate about $3.9 million in provincial income taxes over the next four years, and contribute $31.5 million to the provincial GDP in the same period.
Dream Payments provides technology that enables companies to use mobile devices to accept digital credit card and debit card payments. It opened its Moncton office in July 2017, where it now employs 13 people.
Dream Payments CEO Brent Ho-Young called Moncton a "fantastic place" for a technology business because of its access to talent.
"We looked around the world and found that Moncton and New Brunswick has the support, has the people, and has some incentives as well that will help accelerate our business on the world stage," he said.
